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Tuesday, June 02, 2020

Economy Review: Yogi Adityanath looks to MSMEs to create 90 lakh new jobs in the state

Chief Minister Yogi Adityanath said the employment target could be achieved if each of the 90 lakh MSME units in the state recruited one person to their workforce.

By: Express News Service | Lucknow | Published: May 11, 2020 5:01:56 am
Yogi Adityanath, JOb creation, Economic growth, Up news, Indian express news The Chief Minister said entrepreneurs who set up MSME units would be able to receive NOCs even if they apply in the last 100 days of the 1,000-day window.

The state government on Sunday said it would provide employment to 90 lakh people in existing Micro, Small and Medium Enterprises (MSMEs), and encourage entrepreneurs to set up more such units by offering loans on easy terms.

Chief Minister Yogi Adityanath said the employment target could be achieved if each of the 90 lakh MSME units in the state recruited one person to their workforce.

In a statement providing details of its plan, the government said, “The rules for all types of NOCs [no-objection certificates] will be simplified along with the environment norms for new-found units. For transparency, all these certificates will be available in a single-window system.”

Adityanath said the current crisis brought about the Covid-19 pandemic had provided an opportunity. “We will accept this as a challenge and make the state the hub of the MSME sector. This will provide employment to people at the local level with minimum capital, minimum risk,” the statement quoted him as saying.

The Chief Minister said entrepreneurs who set up MSME units would be able to receive NOCs even if they apply in the last 100 days of the 1,000-day window.

“Bankers will give loans on easy terms to every entrepreneur setting up the unit. For this, loan fairs will be organised in every district from May 12 to May 20. People who want to take part in it will have to apply online. Instructions have been given to the bankers in the meeting of the State Level Bankers Committee,” said the government.

The Chief Minister told officials to motivate entrepreneurs to set up MSME units in the state, and asked them to prepare a detailed action plan as soon as possible. “Despite the recession, this sector has contributed significantly to the growth of per capita income of the state in the last three years. We will further increase the per capita income through this,” he said.

Last week, in an attempt to revive industries, the government had approved an ordinance putting on hold several labour laws for the next three years.

On Saturday, the Adityanath administration announced it was formulating a policy to provide employment to the 20-lakh migrant workers expected to return to Uttar Pradesh amid the ongoing lockdown. Many of them are already back in the state.

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